Why MLS Access is Crucial for Real Estate Investors
The Multiple Listing Service (MLS) is the king database of leads in any real estate market. According to the National Association of Realtors, 90% of all real estate transactions occur through the MLS. For real estate investors, having access to this database means fishing in a vast ocean of opportunities rather than a small pond.
In this article, I’ll explain what the MLS is, why it’s essential, and how you can get access without a real estate license. I’ve been wholesaling, fixing & flipping, and buying & holding properties from the MLS for over a decade, and so have hundreds of my clients across the United States.
Understanding the MLS
The MLS stands for Multiple Listing Service. At Real Estate Skills, we like to call it the multiple lead service because it’s a comprehensive database of all market leads in specific areas. There are over 600 private MLSs across various counties and cities in the United States.
The MLS includes property photos, descriptions, and confidential remarks that are not publicly available on sites like Zillow or Redfin. This data helps investors make better decisions and negotiate deals more effectively.
Five Reasons You Need MLS Access
Having access to the MLS as an investor or wholesaler offers several advantages:
- Offensive Strategy: Unlike waiting for leads to come in through signs or mailers, you can actively pursue deals every day.
- Cost-Effective: Accessing deals through the MLS is either free or very inexpensive compared to other marketing methods.
- Direct Access: You get direct access to all market deals in your area, including distressed properties that can be bought below market value.
- Streamlined Communication: Directly contact listing agents without needing a buyer’s agent as an intermediary.
- Networking Opportunities: Build relationships with numerous agents who can bring you multiple deals over time.
How to Get MLS Access Without a License
You don’t need a real estate license to access the MLS. Here are three effective methods:
1. The Existing Network Approach
If you know any friends, family members, or acquaintances who are real estate agents, approach them. Explain that you’re a real estate investor looking for MLS Assistant Access. Highlight how you can help them make more money by submitting offers on distressed properties. Remember WIIFT – What’s In It For Them?
2. The Craigslist Ad Approach
Create an ad on Craigslist targeting investor-friendly realtors and brokers in your area. Use a title like “Looking for Investor-Friendly Realtors in [Your City]” and include an image of a distressed house. In the ad description, explain that you’re looking for long-term relationships to complete multiple deals per year.
3. The Groups Approach
Join online or in-person groups where investor-friendly agents and brokers hang out. Look for Real Estate Investors Association meetings in your area or join relevant Facebook groups. Post about your need for MLS Assistant Access and how you can bring value to agents and brokers.
Best Practices for Getting MLS Access
Here are some tips to make your job easier:
- Focus on Investor-Friendly Agents: Not all agents want to work with investors. Seek out those who do.
- Avoid Email Lists: Getting on an agent’s email list is not true MLS access. You need direct access.
- Do Preliminary Research: Understand what MLS Assistant Access is and be ready to explain it to agents who may not know about it.
- Be Ready to Pay: Typically, Assistant Access costs between $25 to $75 per quarter. It’s worth it for the data you’ll receive.
If you follow these steps, you’ll gain valuable access to the MLS without needing a real estate license. This will allow you to find distressed properties, build relationships with agents, and grow your real estate business effectively.
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